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Latest Business News Wires - Business Headlines


  • Diplomats: EU chiefs agree on bank supervisor Thursday, 18 Oct 2012 | 4:27 PM ET

    BRUSSELS-- European Union leaders announced early Friday they had agreed to create a single supervisor for banks in countries that use the euro, and said it would "probably" become operational sometime next year. France has been pushing to get all 6,000 banks in the 17 euro countries under the supervision of one European body by the end of this year.

  • Hybrid vehicle battery creator Ovshinsky, 89, dies Thursday, 18 Oct 2012 | 4:23 PM ET

    DETROIT-- Stan Ovshinsky, the self-taught inventor who developed the nickel-metal hydride battery used in the hybrid vehicle industry, has died at his home in suburban Detroit after a fight with cancer. His son, Harvey Ovshinsky, said his father was passionate about science and alternative energy, but also about civil rights and other social causes.

  • Regulator rejects Bell's bid for Astral Thursday, 18 Oct 2012 | 4:20 PM ET

    TORONTO-- Canada's broadcast regulator has rejected BCE Inc.' s bid to buy Astral Media Inc. for US $3.40 billion. BCE, Canada's largest telecommunications company, had wanted to create a media powerhouse with more content to deliver to televisions and mobile devices across Canada.

  • News Summary: Chinese co. warns on US investment Thursday, 18 Oct 2012 | 4:18 PM ET

    BLOWBACK: The Chinese company suing President Barack Obama for blocking its planned wind farm projects accused the U.S. leader and his government of discrimination and warned that the case would deter Chinese investment in the United States.

  • Arizona jobless rate for September at 8.2 percent Thursday, 18 Oct 2012 | 4:16 PM ET

    PHOENIX-- Arizona's September unemployment dipped to 8.2 percent, down from 8.3 percent the two previous months. Department of Administration economists report that the state added 30,000 jobs, mostly in government due to seasonal hiring by schools. The department says seven of the 11 major economic sectors added jobs in September while four lost jobs.

  • Michigan combines regulation of health providers Thursday, 18 Oct 2012 | 4:16 PM ET

    LANSING, Mich.-- State regulators in Michigan have created a new agency to focus on health care providers. The Michigan Department of Licensing and Regulatory Affairs said Thursday that it's forming a new Bureau of Health Care Services.

  • News Summary: Signs Chinese economy recovering Thursday, 18 Oct 2012 | 4:14 PM ET

    RECOVERY: China's worst slump since the global financial crisis leveled out in the latest quarter and retail sales picked up in a sign an economic rebound is taking shape. THE NUMBERS: The world's second-largest economy grew 7.4 percent in the three months ending in September.

  • Fed approval for NY/NJ gas pipeline stands Thursday, 18 Oct 2012 | 4:14 PM ET

    JERSEY CITY, N.J.-- Federal environmental officials have declined to reconsider their approval of a 16- mile natural gas pipeline across portions of northern New Jersey and into New York City. A spokesman for the Federal Energy Regulatory Commission says the decision was made at the agency's meeting Thursday in Washington.

  • Grant funds Kan. precision agriculture partnership Thursday, 18 Oct 2012 | 4:13 PM ET

    The National Institute of Food and Agriculture has awarded $277,000 to Fort Hays State University and Hutchinson Community College to promote so-called precision agriculture. Hutchinson Community College will purchase a GPS-compatible grain combine and a farm utility vehicle with soil grid sampling equipment.

  • Hawaii unemployment rate at nearly 4-year-low Thursday, 18 Oct 2012 | 4:13 PM ET

    HONOLULU-- Hawaii's unemployment rate fell to a seasonally adjusted 5.7 percent last month, its lowest rate in nearly four years. The state Department of Labor and Industrial Relations said Thursday the last time Hawaii's jobless rate was this low was December 2008. Hawaii added jobs in the fields of education, health services and tourism.

  • News Summary: Google out early; Nasdaq falls Thursday, 18 Oct 2012 | 4:13 PM ET

    NOT FEELING LUCKY: Google inadvertently released a disappointing earnings report early, and its stock plunged. Google ended the day down more than $60 per share, or 8 percent. EARNINGS WATCH: BB&T, Philip Morris International and Boston Scientific all fell after reporting disappointing earnings.

  • RI unemployment rate down for fifth straight month Thursday, 18 Oct 2012 | 4:12 PM ET

    PROVIDENCE, R.I.-- Rhode Island's unemployment rate fell in September for the fifth straight month to its lowest level in three-and-a-half years. The state Department of Labor and Training reported Thursday the jobless rate fell to 10.5 percent, down from 10.7 in August.

  • Lawsuit: Aspen Dental clinics operating illegally Thursday, 18 Oct 2012 | 4:11 PM ET

    ALBANY, N.Y.-- Aspen Dental Management and the private equity firm that controls it illegally operate dental clinics across the country and engage in aggressive, misleading profit-driven practices that cause patients economic harm, claims a federal lawsuit filed Thursday in New York.

  • Google plunges, dragging down the Nasdaq Thursday, 18 Oct 2012 | 4:09 PM ET

    A sharp drop in Google's stock dragged the Nasdaq composite down 1 percent after a weak earnings report for the company was inadvertently released hours ahead of schedule. The Nasdaq lost 31 points to close at 3,073. An 8 percent drop in Google, the third-largest component in the Nasdaq after Apple and Microsoft, was a big factor.

  • Google issues a bad report early, hurting Nasdaq Thursday, 18 Oct 2012 | 4:09 PM ET

    NEW YORK-- Google plummeted almost $80 per share, more than 10 percent, and trading in the stock was halted two and a half hours Thursday after a disappointing earnings report was published ahead of schedule and surprised investors. Google was trading at $754 per share at 12:30 p.m. EDT, then fell almost $20 in a minute after investors saw the report, a draft.

  • USG shares rise as company pares its 3Q loss Thursday, 18 Oct 2012 | 4:06 PM ET

    CHICAGO-- Shares of USG Corp. rose Thursday after the building products maker said its third-quarter loss shrank. In the three months ended Sept. 30, the Chicago company reported a loss of $29 million, or 28 cents per share.

  • News Summary: Low expectations for Brussels summit Thursday, 18 Oct 2012 | 4:04 PM ET

    SCRAPPING: European Union leaders are tussling at a Brussels summit over how much power to cede to central authorities to ensure their debt crisis never repeats itself.

  • Military members face student loan debt problems Thursday, 18 Oct 2012 | 3:58 PM ET

    The report was compiled by the Office of Servicemember Affairs within the Consumer Financial Protection Bureau. The office was created in Congress' Wall Street reform legislation so it could better coordinate with other federal and state agencies on consumer protection issues, as well as be an ombudsman for student loans.

  • Eaton Vance raises quarterly dividend Thursday, 18 Oct 2012 | 3:58 PM ET

    BOSTON-- Investment manager Eaton Vance Corp. said Thursday that its board of directors approved a 5.3 percent increase to its quarterly dividend. The company will pay 20 cents per share to shareholders on Nov. 14 to shareholders of record as of Oct. 31. Eaton Vance shares rose 5 cents to $29.19 in afternoon trading.

  • Harley-Davidson shares rise after analyst upgrade Thursday, 18 Oct 2012 | 3:50 PM ET

    DETROIT-- Harley-Davidson Inc. rose Thursday after a Goldman Sachs analyst upgraded the shares, telling investors that the low price and looming motorcycle sales increases make the shares attractive. Analyst Patrick Archambault upgraded Harley from "Neutral" to "Buy," and raised his six-month price target by $3 to $54.